Tehran/Doha, October 30, 2026 — Iranian Foreign Minister Abbas Araghchi said on Thursday that Tehran remains in close contact with mediators to explore ways to implement the country’s proposed seven-day plan aimed at reopening the Strait of Hormuz and reducing regional tensions.
The plan, which Iran has previously conveyed through Qatar, calls for a ceasefire across West Asia, the unfreezing of Iranian assets, the lifting of oil-sector sanctions, and an end to the US naval blockade. In return, Tehran has indicated it would reopen the Strait of Hormuz, one of the world’s most important energy shipping routes.
Qatari mediators have presented Iran with a new draft proposal, and Iranian officials are expected to respond by the end of the week, according to people briefed on the talks. Parallel diplomatic efforts involving Pakistan and other regional players have also continued in recent days.
Security incidents continue
Despite the diplomatic activity, security incidents in the Strait of Hormuz have not stopped. Reports on Thursday said a tanker was approached by a smaller vessel that attached explosives to its hull, causing a fire in the engine room. The crew was reported safe. Iranian state media and the IRGC have also spoken of tankers hitting mines or warning shots being fired at vessels using routes Tehran considers unauthorized.
Economic pressure and nuclear file
US officials maintain that the naval blockade and broader economic measures remain in force. Treasury Secretary Scott Bessent has claimed the measures have significantly reduced Iran’s ability to fund its military and regional activities. On the nuclear side, the International Atomic Energy Agency (IAEA) said earlier this week that it has seen no signs of Iran repairing facilities damaged in earlier strikes, though verification of Iran’s enriched uranium stockpile remains incomplete.
Outlook
Both sides continue to publicly emphasize diplomacy while preparing for the possibility of further escalation. Iranian officials have repeatedly said their armed forces are ready to respond to any new attack, while the US has indicated it will not launch fresh strikes before the November midterm elections. Oil markets remain sensitive to developments in the Strait of Hormuz.
